Iran, World War II and Consumer sentiment
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Another Friday has managed to deliver unpleasant news about the US economy. According to the University of Michigan, consumer sentiment fell in recent weeks to a record low, an historic reading likely fueled by the US-Israel war with Iran and the effect it’s had on already-bubbling inflation.
Higher gas prices from the conflict in Iran weighed on Americans' views of the overall economy, according to a preliminary reading of consumer sentiment in March.
The preliminary April sentiment index slumped to 47.6 from 53.3 in March, according to the latest University of Michigan data.